Lenskart Secures Around ₹1,663 Cr Funding From Temasek And Fidelity

Lenskart has raised $200 million (around ₹1,663 crore) from Temasek and Fidelity in its secondary investment round. The funding round was advised by Avendus Capital.

What Happened: Lenskart secured the funds from Temasek and Fidelity Management & Research Company (FMR), according to the official announcement.

This investment marks Temasek’s continued commitment to Lenskart, while FMR has joined the cap table for the first time. Following this transaction, Lenskart has attracted nearly $1 billion (around ₹8,316 crore) in capital over the past 18 months, making it one of the largest growth-stage financings globally.

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Lenskart is not only expanding its presence in India but is also rapidly extending its reach to other parts of Asia, including Southeast Asia and the Middle East. The eyewear retailer is revolutionising the industry with its unique click-and-mortar business model, offering a seamless omnichannel customer experience across online, a mobile application and physical stores.

Avendus Capital acted as the exclusive financial advisor to Lenskart and its selling shareholders in this transaction. Neeraj Shrimali, Managing Director and Co-Head, Digital and Technology Investment Banking, Avendus Capital, expressed his pleasure at partnering with Lenskart once again. He commended Lenskart’s robust business model and its dedication to customer satisfaction.

In 2023, the Piyush Bansal-led company had raised $600 million (around ₹4929 crore). Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) had invested $500 million (₹4,108 crore) and private equity firm ChrysCapital invested $100 million (₹821 crore) through primary and secondary share sales

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Posted In: NewsFinancingStartupsTechGeneralFidelityLenskartTemasek